Beware of Buyer Behavior
For my service, I decided to segment my prospective
customers into a generational market.
Such as, baby boomers, generation x, etc. The segment that I chose to interview was
that of Gen X, which coincidentally is the category of my generation.
I spoke with three individuals within the chosen
segment. I focused more on the financial
planning of my service then on just advice for a given situation.
Summary:
I learned from the individuals that they developed an awareness
of the need at an early age. One
individual stated that his awareness was through his parents. That is, he over heard them planning for
their future and decided to start doing the same. Another individual was married at 19 and determined
they needed to do research to make wise financial decisions and plan for their
future. The last individual was employed
with a large corporation right after college and was given employee benefits. Through self-initiated research they
determined how to meet the need.
Information search was conducted by using family members,
reading over employee benefits packages, and using the internet.
Conclusion:
This segment appears to be very aware of the need. They are also very intuitive with searching to
fulfill the need. The segment seems to
take a proactive approach in carefully planning out their future, which may have
been inadvertently created from the previous generation. I would expect a good portion of my market to
come from this segment.
Deciding to segment your buyers into age ranges is a good idea, and good way to stay organized. helps clear your thought process. I feel like I did not get much out of this segment for the class, perhaps it should be administrated in a different way, that would be much more beneficial for the class. I am open to keeping an entrepreneurial mind, but did not find much benefit in this. I found a common ground in my participants for interviews as well.
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